If the world supply of diamonds decreases, diamonds become more ...

[Charlie]

If the world supply of diamonds decreases, diamonds become more valuable, and therefore, the consumer surplus derived from diamonds increases.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the money supply grew by 6 percent and velocity fell by 2 percent, nominal GDP would:
 a. fall by 4 percent.
 b. rise by 4 percent.
 c. rise by 8 percent.
 d. rise by 12 percent.

[moormoney]

Answer to Question 1

False

Answer to Question 2

b

[Charlie]

Excellent

[cam1229]

Thanks for the timely response, appreciate it